Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Domestic aluminium prices in Delhi and Mumbai rose across grades with EC wire, Old Sheet and Old Cast prices jumping the most this week. However, utensils’ prices dropped in Mumbai despite the advancement in the LME three-month official contract for aluminium. The three-month aluminium contract gained 3.79pc from the prior week and settled at $2,161.5/mt, up by $79/mt on Monday.

Domestic demand and export orders for auto and secondary alloys are recovering marginally, which is influencing the offers for scrap.

The weekly Davis Index for the domestic Old Cast (Purja/Tense), Tuesday, settled at Rs120,167/mt del Delhi consumer, up by Rs4,667/mt ($64.36/mt) while in Mumbai, the Index dipped by Rs5,500/mt del consumer to settle at Rs118,500/mt as demand slowed.

The weekly Davis Index for domestic Taint/Tabor (old sheet) on Tuesday settled at Rs123,000/mt del Delhi consumer, up by Rs2,500/mt on the advancement in LME. In Mumbai, the weekly Index for this index settled at Rs126,000/mt del consumer, up by Rs3,500/mt. LME aluminium contract’s hike has resulted in higher offers in the major cities.

The weekly Index for domestic EC wire Tuesday settled at Rs160,000/mt del Delhi consumer, up by Rs4,020/mt while for Mumbai it settled at Rs162,233/mt del consumer, up by Rs7,333/mt.

The weekly Index for aluminium utensil settled at Rs130,667/mt del Delhi consumer up by Rs1,167/mt, and in Mumbai, it dipped by by Rs667/mt to Rs129,333/mt del consumer on slow demand. Market participants are unsure about the price direction. 


($1 = Rs72.50)


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